The owner of the Woodie's DIY, Home and Garden business said the chain experienced "exceptional growth" for the four months to the end of October due to very high demand for home maintenance and improvement products.
In a trading update, Grafton Group said its performance in the four month period was ahead of expectations with total revenue rising by 5.1% to £1 billion compared to £962m the same time last year.
Grafton said it is on course to deliver a strong performance for the second half after its higher than expected level of operating profit for the four months to the end of October.
It said it now anticipates adjusted operating profit in the second half in the range of £130-£140m on the basis that trends in trading for the rest of the year remain consistent with those experienced in October and are not materially affected by the recently introduced Covid-19 restrictions.
"This is approximately 24-33% higher than the second half of 2019 and is significantly ahead of guidance given in August that adjusted operating profit in the second half would be at a similar level to the same period in 2019," the company said.
The group said it benefitted from pent-up demand that developed during the lockdown, adding that consumers spent some of the savings from reduced spending on travel, leisure and hospitality on their homes.
"The increase in the number of people working from home due to the pandemic also contributed to higher demand in our stores and branches," the company added.
However, it noted that group like-for-like revenue was down by 11.4% in the first ten months of 2020 due to the impact of the pandemic on trading in the second quarter that was partly offset by a marked improvement in trading in the four months to the end of October.
Gavin Slark, the chief executive of Grafton Group, said that despite all the current uncertainties, he was very encouraged by the trading and financial performance of the company over recent months.
"Grafton is in a very strong financial position and has a diversified portfolio of market leading businesses with exposure to residential RMI leaving it well placed to benefit from current market trends," Mr Slark said.
He also said he was very grateful for the way the company's staff have continued to respond to the ongoing pandemic and he thanked them sincerely for their dedication, commitment and hard work which has enabled the businesses to continue to trade and to support its customers in a safe environment.
